Cogent Communications Holdings, Inc. (CCOI) Position Maintained by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky held its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,900 shares of the technology company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cogent Communications Holdings were worth $684,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. LS Investment Advisors LLC raised its stake in shares of Cogent Communications Holdings by 74.2% in the first quarter. LS Investment Advisors LLC now owns 2,571 shares of the technology company’s stock worth $111,000 after buying an additional 1,095 shares during the period. Glen Harbor Capital Management LLC raised its stake in shares of Cogent Communications Holdings by 36.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock worth $122,000 after buying an additional 756 shares during the period. Elkfork Partners LLC raised its stake in shares of Cogent Communications Holdings by 36.5% in the first quarter. Elkfork Partners LLC now owns 3,434 shares of the technology company’s stock worth $148,000 after buying an additional 918 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Cogent Communications Holdings during the first quarter worth $155,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Cogent Communications Holdings by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 4,520 shares of the technology company’s stock worth $194,000 after buying an additional 80 shares during the period. 93.99% of the stock is owned by institutional investors and hedge funds.

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) opened at 43.65 on Friday. Cogent Communications Holdings, Inc. has a 52-week low of $34.23 and a 52-week high of $45.25. The stock has a 50 day moving average price of $41.92 and a 200 day moving average price of $41.70. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 124.71 and a beta of 0.74.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.02. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The company had revenue of $119.80 million during the quarter, compared to analyst estimates of $120.23 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts expect that Cogent Communications Holdings, Inc. will post $0.48 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a $0.46 dividend. The ex-dividend date is Wednesday, August 16th. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a yield of 4.22%. Cogent Communications Holdings’s dividend payout ratio (DPR) is currently 488.89%.

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CCOI has been the subject of a number of research analyst reports. BidaskClub raised Cogent Communications Holdings from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Deutsche Bank AG reaffirmed a “buy” rating and set a $48.00 target price (up from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $45.00 target price on shares of Cogent Communications Holdings in a research report on Sunday, July 9th. Cowen and Company reaffirmed a “hold” rating and set a $42.00 target price on shares of Cogent Communications Holdings in a research report on Friday, July 28th. Finally, Zacks Investment Research raised Cogent Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Cogent Communications Holdings presently has an average rating of “Hold” and a consensus price target of $42.45.

In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $40.25, for a total value of $40,250.00. Following the sale, the vice president now directly owns 43,052 shares in the company, valued at $1,732,843. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $40.20, for a total value of $120,600.00. Following the completion of the sale, the vice president now owns 53,240 shares in the company, valued at $2,140,248. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,433 shares of company stock worth $1,147,646. 9.48% of the stock is owned by insiders.

About Cogent Communications Holdings

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Institutional Ownership by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

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